Celestia on pace to surpass Ethereum in data storage — Research

[Federal Reserve Meeting Minutes Predict Accelerated Economic Growth in 2026] The Federal Reserve meeting minutes indicate that participants generally expect the pace of economic growth to accelerate in 2026, with economic activity expanding at a rate close to potential output in the medium term. Many participants believe that fiscal policy, regulatory policy adjustments, and more favorable financial market conditions will support economic growth, though uncertainty surrounding actual GDP growth forecasts remains high. Some participants pointed out that technological advancements and productivity improvements (possibly related to increased applications of artificial intelligence) may promote economic growth without generating price pressures but could potentially suppress employment growth.

[Federal Reserve Survey: May Purchase $220 Billion in Short-Term Treasury Bonds Over the Next 12 Months] The minutes of the Federal Reserve's December meeting show that survey results estimate the Fed will purchase approximately $220 billion in short-term Treasury bonds over the next 12 months, with respondents showing significant differences in their specific scale estimates. At the December meeting, Federal Reserve policymakers decided to begin purchasing short-term Treasury bonds, considering that the financial system's reserves had fallen to a "moderately ample" level. The Fed plans to purchase about $40 billion in short-term Treasury bonds each month and gradually reduce the purchase amount. So far, it has purchased approximately $38 billion, with two more operations planned for January.

According to Token Terminal data, Ethereum added 8.7 million smart contracts in the fourth quarter, mainly driven by tokenized assets, stablecoins, and infrastructure, setting a new quarterly high and further consolidating its position as a global settlement layer. （CoinDesk）

[Some Federal Reserve Officials Hold a Cautious Attitude Toward Rate Cuts Early Next Year] According to the meeting minutes released on December 31, during this month's Federal Reserve meeting where the decision to cut interest rates was made, some officials expressed reluctance to support further easing of policies in the near term, indicating that rate cuts at the January meeting next year may face resistance. The minutes noted that the longer-than-expected duration of price increases has made the decision to cut rates more challenging. Economic data released after the December meeting showed that strong consumer spending has driven economic growth, despite a slight rise in the unemployment rate. New data to be released next month may influence Federal Reserve officials' views ahead of the late-January rate-setting meeting.

[Federal Reserve Meeting Minutes: Increased Downside Risk to Employment] The Federal Reserve meeting minutes show that members unanimously believe economic activity is expanding at a moderate pace, employment growth has slowed this year, and the unemployment rate has slightly increased as of September, with recent indicators aligning with these trends. Inflation has risen since the beginning of the year and remains at a high level. The committee is closely monitoring risks to its dual mandate, and downside risks to employment have increased in recent months.